Energy Harbor Collaborates with Great Lakes Clean Hydrogen Partnership to Move Forward with DOE Application

TOLEDO, Nov. 10, 2022 - Energy Harbor along with Linde, GE Aerospace, Cleveland-Cliffs, The University of Toledo and other members of the Great Lakes Clean Hydrogen Partnership (GLCH) today announced they have moved forward with its Department of Energy (DOE) hydrogen hub application. This new industry-led coalition will transition Midwest manufacturing, mobility, power generation and technology operators away from greenhouse gas emitting feedstocks and fuels, to hydrogen, a low carbon alternative solution. This action will also attract investors and new businesses who value access to low carbon hydrogen resulting in jobs at prevailing wages, support for disadvantaged communities and a healthier environment. Today's filing of the GLCH Concept Paper is the initial step in the DOE hydrogen hub application process.

The region is the ideal location for a clean hydrogen hub, due to its unique access to ample carbon free nuclear power, the major crossroads of I-80 and I-75, high concentration of manufacturing and technology companies, Great Lakes marine shipping fleet and a highly skilled workforce.

Key coalition partners, including Linde, Energy Harbor, GE Aerospace, Cleveland-Cliffs, multiple glass manufacturers and the University of Toledo, will develop low carbon hydrogen on site at Energy Harbor's Davis-Besse nuclear plant. The GLCH partners are actively working with technology suppliers, hydrogen consumers, state and regional academic institutions, federal laboratories, and non-profit organizations to develop a clean energy hydrogen hub to qualify for a significant portion of $8 billion of infrastructure funding being managed by the U.S. Department of Energy's (DOE) regional clean hydrogen hub initiative.

"This industry-led hydrogen hub intends to ensure that the Midwest is a leader in decarbonization so that regional industries and supply chains are globally competitive, and opportunities are created for workers and their communities," said Frank Calzonetti, vice president for research at The University of Toledo.

GLCH will differentiate itself from other hub initiatives through the use of existing carbon free infrastructure from Energy Harbor's safe, reliable nuclear power generation, technology that produces low carbon hydrogen at a very competitive price, diverse distribution channels and hydrogen-ready facilities, such as Cleveland-Cliffs' Direct Reduction plant. GLCH anticipates being on-line, with proven technology in less time than competing alternatives.

Primarily serving the Ohio and Michigan region, the GLCH will be a vital source to the automotive, power generation, trucking, steel manufacturing and technology suppliers. It will also serve to be a future connection between the East Coast and the broader Midwest (Illinois, Indiana and Wisconsin).

"As we begin an exciting new era of innovation, America's energy future will be built right here in the industrial heartland," U.S. Representative Marcy Kaptur said. "Through remarkable collaboration between local companies, universities and public and private sector organizations, the Great Lakes Clean Hydrogen coalition will harness the talents and expertise of our region to solidify the United States' role as a leader in hydrogen production - growing our economy and supporting good-paying jobs."

The GLCH is very proud to have many other organizations also supporting our objectives:

Energy Harbor is a highly reliable provider of carbon free baseload electricity committed to Environmental, Social and Governance (ESG) principles critical to meeting the nation's emissions goals and accelerating the country's clean energy transition. Our success is driven by our unwavering employee commitment to safe, reliable operations, financial stability and best in class service to meet the energy and sustainability needs of our customers.

For more information on Energy Harbor visit www.energyharbor.com

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit www.linde.com

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Cleveland-Cliffs has established a climate commitment to reduce its GHG emissions 25% by 2030 from 2017 levels and is a partner of the U.S. Department of Energy's (DOE) Better Climate Challenge, which encourages companies to set bold portfolio-wide GHG reduction targets. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

GE Aerospace is a world-leading provider of jet engines, components, and systems for commercial and military aircraft with a global service network to support these offerings. GE Aerospace and its joint ventures have an installed base of more than 39,000 commercial and 26,000 military aircraft engines, and the business is playing a vital role in shaping the future of flight.

A public research university offering more than 250 undergraduate and graduate programs and internationally recognized in renewable energy and water research, and its ability to connect research to the broader community. The University is leading the diversity, equity and environmental justice aspects of the proposal. Its Wright Center for Photovoltaics Innovation and Commercialization (PVIC) is charged with developing and advancing solar to H2 projects in the GLCH hub. PVIC has received more than $50 million in external funding over the past decade and leads the DOE's solar energy CdTe Accelerator Consortium.

This press release contains "forward-looking statements." All statements, other than statements of historical facts, that are included in this press release that address activities, events, or developments that Energy Harbor Corp. (the "Company") expects or anticipates to occur in the future (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "are expected to," "could" and "will continue"), are forward-looking statements. Although the Company believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under "Risk Factors" available on the Investor Website (as described below) and the following important factors, among others, that could cause the Company's actual results to differ materially from those projected in such forward-looking statements: the actions and decisions of regulatory authorities; economic conditions and power pricing within the Company's territories and markets; the Company's ability to accomplish or realize anticipated benefits from strategic and financial goals; the uncertainties associated with the deactivation of remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including with respect to the timing and amounts of the capital expenditures that may arise in connection with any such proceedings; changes in customers' demand for power; and weather conditions affecting future sales, margins and operations.

Any forward-looking statement included in this press release speaks only as of the date hereof, and except as may be required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for the Company to predict all of them; nor can the Company assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not rely on such forward-looking statements.

Further information regarding the Company will be available at www.energyharbor.com under the heading www.energyharbor.com/ir (the "Investor Website"). The Company advises that holders of the Company's securities should review all available information before making any decisions whether to buy or sell any of the Company's securities. Any information in any materials posted on the Investor Website in the future will automatically update and, where applicable, modify or supersede the information contained in this press release and any other information previously posted on the Investor Website.

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